6 NBFCs Registration Cancelled, 11 Others Surrender Certificates to RBI

Moneylife Digital Team 10 April 2025

Investor Interest

As many as 11 non-banking finance companies (NBFCs) have surrendered their registration certificates to the Reserve Bank of India (RBI), while the regulator cancelled the registration of six NBFCs for reasons such as exiting the business and ceasing to be legal entities due to amalgamation, merger, dissolution or voluntary strike-off.

The NBFCs whose registrations have been cancelled by RBI include: Tamil Nadu-based Thamiraparani Investments Pvt Ltd, Aramusk Infrastructure Investments Ltd, and Viswapriya Gold Hire Purchase Ltd (now known as Viswapriya Finance Ltd, as per MCA records), as well as Matrix Financial Services Ltd. The list also includes Unitara Finance Ltd from Madhya Pradesh and Well Fin Securities Ltd from Gujarat.

RBI has not given any specific reason for cancelling the registration of these four NBFIs. Its statement merely says, "...in the exercise of powers conferred on it under section 45-IA (6) of the RBI Act, 1934, has cancelled the certificate of registration...As such, the above companies shall not transact the business of a non-banking financial institution -NBFI, as defined in clause (a) of Section 45-I of the RBI Act."

The 11 NBFCs who have surrendered their registration include six from Maharashtra, three from Karnataka and one each from Assam and Telangana.

According to RBI, eight NBFCs surrendered their registration certificates after deciding to exit from the NBFC business. Following corporate actions such as amalgamation, dissolution, merger or voluntary strike-off, three NBFCs ceased operations.

Maharashtra-based Hinduja Finance Ltd and Whitegold Holdings Pvt Ltd surrendered their registration certificate. RBI issued an order to cancel their registration on 7 March 2025 and 13 March 2025, respectively.

RBI says the registration certificates of Maharashtra–based Rutgers Investment and Trading Company Pvt Ltd and Digikredit Finance Pvt Ltd are cancelled from 28 March 2025.

Joindre Finance Pvt Ltd and Jasol Investment & Trading Co Pvt Ltd, also based in Maharashtra, had their registration issued on 31 August 2006 and 26 May 1998, respectively. However, RBI issued an order to cancel their registration on 17 March 2025.

Ekagrata Finance Pvt Ltd, Ezcred Pvt Ltd and Lamina Leasing and Finance Ltd from Karnataka also decided to exit the business and surrender their registration to RBI.

The central bank issued another order for cancelling the registration certificate of Assam-based SM Management Pvt Ltd.

Trident Microfin Pvt Ltd from Telangana have surrendered their registration certificate and RBI has issued an order to cancel their registration on 26 March 2025.

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